AgdaPkt 2012-03-19 - Laserfiche WebLink

Browse Search

6. 1. B. - Page 47 amounts the Board determines are necessary to maintain and fully fund the Reserve Fund; (c) the costs of all utilities for the Common Area, or that are metered to more than one Condominium, and any other utilities or services (such as trash removal) that are billed to the Association for the benefit of the Project; (d) the cost of managing and administering the Association, including compensation for managers, accountants, attorneys, and employees; (e) inspection, maintenance, repair and replacement of Common Area improvements and facilities required by this Declaration and all other expenses incurred by the Association for the common benefit of the Owners, including the cost of inspection and maintenance, janitorial services, (elevator maintenance) and other inspection and maintenance services that benefit the Project; (f) premiums for all insurance covering the Project and insurance policies for the directors, officers and agents of the Association, and bonding the Members of the Board; (g) taxes paid by the Association; (h) any costs and expenses allocated to the Project for maintenance of the Creek Trail Easement Area and (g) amounts paid by the Association for discharge of any lien or encumbrance levied against the Project. 1.14. "Common Interest ": The proportionate undivided interest in the Common Area that is a part of each Condominium as set forth in this Declaration. 1.15. "Condominium ": An estate in real property as defined in California Civil Code §§ 783 and 1351(f), consisting of an undivided interest in the Common Area and a separate interest in space described and defined herein as a Unit. 1.16. "Condominium Plan ": The recorded three - dimensional plan of the Condominiums built or to be built on the property in the Project which identifies the Common Area and each Unitas a separate interest pursuant to California Civil Code § 1351. The Condominium Plan is to be recorded in the Official Records of San Mateo County, 1.17. "County ": The County of San Mateo, California. 1.18. "Davis- Stirling Act ": California Civil Code Sections 1350 -1378. 1.19. "Declarant ": 333 MAIN STREET RWC, LLC, a Delaware limited liability company, and any successor or assign that expressly assumes the rights and duties of the Declarant under this Declaration, in a recorded written document. time. 1.20. "Declaration ": This Enabling Declaration, as amended or supplemented from time to 1.21. "Demising Wall ": A wall between contiguous Units, the space within which is Common Area. 1.22. "Design Guidelines ": The rules or guidelines setting forth procedures and standards for submission of plans for Architectural Control Committee review and approval. 1.23. "DRE ": The California Department of Real Estate and any department or agency of the California state government that succeeds to the DRE's functions. 1.24. "Eligible Mortgages ": Mortgages held by "Eligible Mortgage Holders." 1.25. "Eligible Mortgage Holder ": A holder, insurer, or guarantor of a First Mortgage on a Unit which has requested timely written notices from the Association, in a written request that includes the name and address of the Eligible Mortgage Holder, and the Unit number. 03/06/12 T:IWPWIN601PROIECTS633 MAIN STREETIDEC - DRAFTING FORM[7][03 06 12].doc